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Crestview Exploration Inc.
Summary
| Project: | Rock Creek | |
|---|---|---|
| Deposit: | Rock Creek | |
| Location: | United States | |
| Commodities: | Gold-Silver | |
| Date: | 8/23/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Supporting Acquisition | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 23-8-2019: Crestview Exploration Inc. announces a Supporting Acquisition report for its Rock Creek deposit at the Rock Creek project. Amended technical report - summary of property in support of acquisition. This technical report summarizes the known resu | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Fred Saunders (Independent) | |
| ABSTRACT: | This technical report summarizes the known results of exploration thus far carried out on the Rock Creek Project (Cow claims) and makes specific recommendations for their further exploration. This report was prepared pursuant to the guidelines of Canadian National Instrument 43-101 at the request of Crestview Exploration Inc. (Crestview). The Rock Creek Project is a volcanic and sediment-hosted, epithermal precious metal property, which is adjacent to mines with historical production, situated in the Tuscarora Mountains of northern Elko County, Nevada. Together the property comprises 72 unpatented lode mining claims, previously owned by Kingsmere Mining Ltd. (“Kingsmere”). The Claims were staked by Kingsmere on October 2, 2016; and are subject to an acquisition agreement dated September 19, 2017 between Kingsmere (Vendor) and Crestview Exploration Inc. (Purchaser) (the “Acquisition Agreement”) regarding the acquisition by Crestview of a100% undivided interest on the Claims comprising the Property. The Acquisition Agreement requires Crestview to make a $100,000 payment to Kingsmere upon signing (such amount has been paid as of the date of this report); and issue 3,000,000 Crestview shares (the “Compensation Shares”) following the occurrence of a “liquidity event”; which in the Acquisition Agreement is defined as commencement of public trading of Crestview shares via a direct listing on a recognized Canadian stock exchange, namely the Canadian Securities Exchange. Upon issuance of the Compensation Shares, Crestview will be entitled to an undivided 100% interest in the property. The Compensation Shares to be issued to Kingsmere shall be restricted for resale for a period of twenty-four (24) months following the date of issuance, being the date of the liquidity event. | |
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